Crude Oil at Major Decision Point


Jamie Saettele

Jamie Saettele

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Crude Oil at Major Decision Point

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-I wrote last update that “back and fill turned into a crude bloodbath and 51.60s didn’t do anything! The 61.8% if the run-up is 49.62. That level probably needs to hold if crude is still a bull.” The Fib has failed to hold which is a warning that all is not well. The trendline is the bearish trigger and has yet to break (nearly tested today). Also, the 200 day average has been useful for years and price is back at the level again. Since August 2016, the dynamic has been for price to drop below the average and then turn higher. Look for crude to resolve the dilemma soon.

provides forex news and technical analysis on the trends that influence the global currency markets.


Crude Oil 200 Day Average Dynamic in Play Again

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